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W#w Administration of Tax Increment Financing District No. 13 <br />and Maintenance of the Tax Increment Account- <br />Administration of Tax Increment Financing District No. 13 <br />will be handled by the Office o f the City Manager. <br />The tax increments received as a result of increases in the <br />market value of Tax Increment Financing District No. 13 will <br />be maintained in a special account separate from all other <br />municipal accounts expended only upon sanctioned municipal <br />activities identified in this tax increment financing plan. <br />X0 Annual Disclosure Requirements <br />Pursuant to Minnesota Statutes, Section 469.175, Subdivision <br />, the City must f11e with the State Auditor on or before <br />July 1, an annual financial report for the Tax Increment <br />Financing District No. 13. The report shall also be filed <br />by the City with the school hoard and county board. The <br />report shall: <br />(1) make full disclosure of the sources and uses of <br />public funds in the Tax Increment Financing District No. 13; <br />(2) permit comparison and recon i 1 iat ion with the <br />City's accounts and financial reports; <br />k <br />(3) permit auditing of the funds expended on behalf of <br />the Tax Increment, Financing District No. 13, or that is <br />funded in part or whole through the use of a development <br />account funded with tax increments from other tax increment <br />financing districts within Development District No. 1 or <br />with other public money; and <br />. (4) be consistent with generally accepted accounting <br />principles. <br />In addition, the report shall contain the -f of l owing <br />information: <br />(3L) the 'Original Estimated Market Value of the Tax <br />Increment Financing District No. 131 <br />(2) the Captured Estimated Market 'value of the Tax <br />Increment Financing Di stri ct No. 13, -including the amount of <br />any captured assessed value shared with other tax districts; <br />(3) the outstanding principal amount of tax increment <br />bonds issued or other loans incurred to finance project <br />costs in Tax Increment Financing District No. 13; <br />(4) for the reporting period and for the duration of <br />Tax Increment Financing District No. 13,, the amount budgeted <br />